Global stocks were mostly higher Friday ahead of the U.S. jobs report for October. But experts told CNBC they are skeptical of the current stock rally and see a bubble forming in all asset classes.

Four former dealers at UBS plundered customer accounts to trade and dumped the resulting losses on them, Britain's financial regulator said, further denting the battered Swiss bank's reputation.

Oil prices fell nearly 3 percent on Friday after data showed the U.S. jobless rate jumped to a 26-1/2-year high of 10.2 percent in October, raising concerns about a potential rebound in fuel demand.

Oil prices fell 1 percent on Thursday, as doubts about the pace of economic recovery dented optimism toward a rebound in fuel demand.

China should unshackle the yuan from its dollar peg and follow Singapore's lead in targeting a basket of currencies to determine its exchange rate, Merrill Lynch's China economist said on Wednesday.

Global stocks were in the green on Wednesday ahead of the Federal Open Monetary Committee's interest-rate announcement. Economists expect the U.S. central bank to keep interest rates low "for an extended period," even as the economy shows signs of improving.

Spot gold ran to a record high above $1,090 per ounce on Wednesday, latching on to a weaker dollar with continued support from the IMF's sale of gold to India's central bank.

Crude oil has replaced the dollar as the new reserve currency, according to Kevin Kerr, president & chief trading officer for Kerr Trading International.

The International Energy Agency will "substantially" downgrade its long-term oil demand forecast in its annual energy outlook next week, the second cut in a row, the Wall Street Journal reported on Wednesday.

Oil prices rose 1 percent on Wednesday, extending the previous session's gain, after a U.S. government report showed a surprise decline in crude stocks in the world's largest consumer.

Global stocks were down sharply Tuesday as investors continued to fret over the early removal of government stimulus, particularly in the financial sector. Experts told CNBC the yen remains the favorite among the carry trades.

The International Monetary Fund said on Monday it sold 200 tons of gold to the Reserve Bank of India for $6.7 billion, quietly executing half of a long-planned bullion sale that had threatened to slow gold's rally.

Global stocks were mostly lower on Monday, sticking close to one-month lows as news of CIT Group finally filed for bankruptcy underscored the continuing fragility of parts of the financial sector. Experts told CNBC safe-haven trading is back – for now.

Oil rose nearly 2 percent Tuesday after data showed U.S. factory orders in September expanded at a quicker pace than expected, signaling potential for more fuel demand in the world's biggest energy consumer.

Denbury Resources  has agreed to buy Encore Acquisition for $3.2 billion to create one of North America's largest oil production and exploration companies.